Feeds

i-Mate has no friends

You can't play at the Alternative Investment Market

Security for virtualized datacentres

i-Mate, the Windows Mobile handset manufacturer, will be delisted from the Alternative Investment Market as the share price sinks below a penny and the CEO takes back control of the company.

The Financial Times reports that Jim Morrison, the colourful CEO who still owns more than three quarters of i-Mate, will take full control as the company withdraws from the AIM - itself a listing service for companies with insufficient heft for the London Stock Exchange.

Delisting will save the company over £1m a year. While its shares were once worth more than £2, they're currently languishing below a penny since halving in value in July, and again in September.

The problems should be familiar to anyone with experience in electronics' manufacture - quality control issues and the cost of bringing a range of devices to market with limited production runs of each. Manufacturing is all about volume, which presents a huge barrier to entry for new players unless they have the kind of marketing savvy, and economic muscle, that only Apple has been able to demonstrate in recent years.

i-Mate handsets have a feature set that competes with the best of breed, but without the volume the company lost $61m in the 12 months to March this year, and has already managed to lose $10.8m since then (to the end September).

Now the question becomes how long the company can survive - cash reserves are down to $11.2m, considerably less than the $29m they had back in March when the company was confident that reserves would last at least 12 months.

Once delisted the Chairman, Bernard Cragg, will step down leaving the rambunctious Mr Morrison to take the mantel of chair as well as CEO. He will then attempt to pilot i-Mate through the wreckage left by previous companies attempting to take on the oligopoly of handset manufacturers. ®

Beginner's guide to SSL certificates

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.